15342 Lakes Of Delray Blvd #94 · Delray Beach, FL 33484

$149,000

2 bd · 2.0 ba · 1,160 sqft · Condo public records · 76 Days on market

Built 1992 $714/mo HOA · 31% of rent

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +15.2/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +4.7/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great end unit! Conveniently located to Litton Rd gate! Easy access! Master bathroom is updated. All new screens except for laundry room. New blinds in both bedrooms and kitchen. New ceiling fans. All appliances are all Maytag stainless in kitchen and Whirlpool washer and dryer. Must See!! Community has tons of amenities and activities! Great 55 plus community!

Key facts

• $714 HOA
• Parking
• Community pool

Property features AI

Finance

• Financial info: Pets allowed with conditions; restrictions or possible restrictions
• HOA & community: Monthly association fee of $714; Association fee covers common areas, cable TV, insurance, internet, grounds and structure maintenance, pool(s), recreation facilities, sewer, security, and trash; Community amenities include billiard room, clubhouse, fitness center, library, pool, shuffleboard court, sauna, spa/hot tub, tennis courts, trails, and elevators; Senior community

Exterior

• Parking: Assigned parking; Guest parking; One assigned space
• Security: Security guard
• Utilities: Cable available
• Home design: Attached property; First floor entry; One-story living area with two total stories
• Construction: Block construction; Resale
• Exterior features: Enclosed porch; Porch (screened); Propane tank - leased; Association pool

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Disposal
• Bedrooms: Bedroom on main level
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central electric heating; Electric cooling; Ceiling fan(s)
• Interior features: Blinds; Accessible elevator installed; Elevator; Unfurnished; Breakfast area; First floor entry; Living/dining room; Main living area entry level
• Laundry & utility: Washer and dryer connections; Dryer; Utility/Laundry room; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $149k.

Deal economics

• At list price, monthly cash flow is $52 ($621/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $149k).
• Recommended offer: $140k (6.0% below list) — sets the bar for market timing.
• Cap rate 6.7% vs local median 4.3% in Delray Beach — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 77/100 on livability (#202 in FL, #3,160 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, commute A-; Watch: cost of living C-, crime D-, amenities F.
• Palm Beach (suburban): math 46% / reading 53% proficiency, ranked #34 of 73 in FL (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.3%/yr); 546 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• This rent runs 44% of the median local income ($62k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Palm Beach County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($140k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 11y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 31% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $140,060 (6.0% below list)

Questions for the listing agent

1. It's been on market 76 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.54% ✓
• Cap rate: 6.71%
• Cash-on-cash: 1.49%
• DSCR: 1.07
• GRM: 5.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.28% rent growth · sell at horizon

5-year hold

• IRR: -11.2%
• Equity multiple: 0.58×
• Total profit: $-17,363
• Equity at exit: $22,216

10-year hold

• IRR: 1.1%
• Equity multiple: 1.09×
• Total profit: $3,740
• Equity at exit: $12,883

Cash invested: $41,720 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 33484

• Rents YoY: 4.3%
• Active inventory: 546
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $2,301 high
• Mortgage (P&I): −$781
• Tax from tax record: −$208 /mo · $2,500/yr
• Insurance: −$62
• HOA: −$714
• Vacancy / Maint / Mgmt: −$483
• Net cashflow: $52

Break-even live

Break-even rent $2,235

Max offer price $149,000

Occupancy floor 93%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15364 Lakes of Delray Blvd #45 Delray Beach, FL	2.0	2.0	1160	$2,000	$1.72	14d	1	0.04mi
15355 Lakes of Delray Blvd #309 Delray Beach, FL	2.0	2.0	1362	$2,800	$2.06	18d	1	0.13mi
15449 Lakes of Delray Blvd #207 Delray Beach, FL	2.0	2.0	976	$2,950	$3.02	24d	1	0.17mi
15469 Lakes of Delray Blvd #102 Delray Beach, FL	2.0	2.0	976	$3,000	$3.07	24d	1	0.18mi
15235 Lakes of Delray Blvd #299 Delray Beach, FL	2.0	2.0	900	$1,975	$2.19	18d	1	0.21mi
15109 Ashland Dr #323 Delray Beach, FL	2.0	2.0	998	$3,500	$3.51	24d	1	0.27mi
15108 Ashland Dr #215 Delray Beach, FL	2.0	2.0	900	$2,000	$2.22	24d	1	0.34mi
5600 Atlantic Ave Delray Beach, FL	1.0–3.0	1.0–3.0	1147	$3,030	$2.64	1d	29	0.36mi
15072 Ashland Pl #132 Delray Beach, FL	2.0	2.0	1100	$2,100	$1.91	19d	1	0.37mi
542 Normandy Ln Unit 542 Delray Beach, FL	2.0	2.0	907	$1,600	$1.76	24d	1	0.38mi
599 Burgundy M Delray Beach, FL	3.0	2.0	1097	$2,100	$1.91	3d	1	0.40mi
519 Burgundy K Delray Beach, FL	1.0	1.5	760	$2,400	$3.16	24d	1	0.40mi
767 Burgundy P Delray Beach, FL	2.0	2.0	902	$1,550	$1.72	24d	1	0.40mi
548 Burgundy L Delray Beach, FL	2.0	2.0	902	$1,900	$2.11	7d	1	0.40mi
313 Burgundy G Delray Beach, FL	2.0	2.0	907	$2,050	$2.26	24d	1	0.40mi
481 Burgundy N Unit NA Delray Beach, FL	2.0	2.0	1200	$1,700	$1.42	24d	1	0.40mi
416 Burgundy N Unit I Delray Beach, FL	1.0	1.5	760	$2,100	$2.76	24d	1	0.40mi
452 Normandy J Delray Beach, FL	2.0	2.0	907	$1,600	$1.76	24d	1	0.40mi
452 Normandy J Unit J Delray Beach, FL	2.0	2.0	907	$1,600	$1.76	24d	1	0.40mi
15301 Pembridge Ave #43 Delray Beach, FL	2.0	2.0	1150	$2,150	$1.87	24d	1	0.40mi
812 Burgundy Q Delray Beach, FL	2.0	2.0	907	$1,799	$1.98	24d	1	0.43mi
998 Normandy Trl Unit 998 Delray Beach, FL	2.0	2.0	907	$1,800	$1.98	24d	1	0.43mi
998 Normandy Trl Unit 998 Delray Beach, FL	2.0	2.0	907	$1,800	$1.98	15d	1	0.43mi
930 Normandy T Delray Beach, FL	1.0	1.5	760	$2,800	$3.68	7d	1	0.45mi
949 Normandy Trl Unit 949 Delray Beach, FL	2.0	2.0	907	$3,500	$3.86	24d	1	0.45mi
595 Normandy M Delray Beach, FL	2.0	2.0	907	$1,750	$1.93	24d	1	0.45mi
5884 Morningstar Cir #306 Delray Beach, FL	2.0	2.0	1113	$2,200	$1.98	24d	1	0.50mi
5299 Copperleaf Cir Delray Beach, FL	2.0	2.0	1070	$2,000	$1.87	24d	1	0.52mi
14696 Lucy Dr #14696 Delray Beach, FL	2.0	2.0	1200	$2,200	$1.83	7d	1	0.53mi
5910 Morningstar Cir #202 Delray Beach, FL	2.0	2.0	1120	$2,200	$1.96	24d	1	0.53mi
468 Capri J Delray Beach, FL	2.0	2.0	910	$1,400	$1.54	24d	1	0.54mi
66 Capri B #66 Delray Beach, FL	2.0	2.0	910	$2,000	$2.20	18d	1	0.54mi
120 Normandy C Delray Beach, FL	1.0	1.5	760	$1,495	$1.97	7d	1	0.54mi
974 Normandy Trl #974 Delray Beach, FL	2.0	2.0	907	$1,800	$1.98	24d	1	0.55mi
5190 Las Verdes Cir #315 Delray Beach, FL	2.0	2.0	930	$2,000	$2.15	7d	1	0.56mi
794 Normandy Q Delray Beach, FL	2.0	2.0	907	$1,800	$1.98	17d	1	0.57mi
14716 Canalview Dr Unit D Delray Beach, FL	2.0	2.0	1186	$3,500	$2.95	12d	1	0.57mi
15548 Bottlebrush Cir Delray Beach, FL	2.0	2.0	1169	$2,200	$1.88	24d	1	0.57mi
66 Capri B Unit B Delray Beach, FL	2.0	2.0	910	$2,000	$2.20	14d	1	0.57mi
5220 Las Verdes Cir #101 Delray Beach, FL	2.0	2.0	876	$1,950	$2.23	5d	1	0.59mi

HOA detail condo

• Monthly dues: $714 · $8,568/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 48 events

1. 2026-06-18
   days on market $149,000 Active 76 DOM
2. 2026-06-17
   days on market $149,000 Active 75 DOM
3. 2026-06-16
   days on market $149,000 Active 74 DOM
4. 2026-06-15
   days on market $149,000 Active 73 DOM
5. 2026-06-13
   days on market $149,000 Active 71 DOM
6. 2026-06-09
   days on market $149,000 Active 67 DOM
7. 2026-06-08
   days on market $149,000 Active 66 DOM
8. 2026-06-07
   days on market $149,000 Active 65 DOM
9. 2026-06-04
   days on market $149,000 Active 62 DOM
10. 2026-06-03
    days on market $149,000 Active 61 DOM
11. 2026-06-02
    days on market $149,000 Active 60 DOM
12. 2026-06-01
    days on market $149,000 Active 59 DOM
13. 2026-05-31
    days on market $149,000 Active 58 DOM
14. 2026-04-25
    price $154,000
15. 2026-03-27
    listed $159,000 Active
16. 2025-12-05
    historical
17. 2025-10-27
    price $175,000
18. 2025-07-14
    price $170,000
19. 2025-07-14
    status Active
20. 2025-07-04
    historical
21. 2025-07-04
    status Active
22. 2025-06-01
    price $225,000
23. 2025-06-01
    historical
24. 2025-06-01
    status Active
25. 2025-05-01
    historical
26. 2025-02-15
    historical $1,500
27. 2025-02-08
    listed $1,500
28. 2025-02-08
    historical $1,500
29. 2025-02-08
    listed $1,500
30. 2024-07-09
    price $209,980
31. 2024-05-24
    price $209,985
32. 2024-04-18
    price $209,990
33. 2024-03-08
    price $214,990
34. 2024-02-05
    price $219,999
35. 2023-12-04
    listed $225,000 Active
36. 2021-07-09
    soldstatus $155,000
37. 2021-07-02
    soldstatus $155,000 Closed 363-char remark

    Show marketing remark (363 chars)

    Great end unit! Conveniently located to Litton Rd gate! Easy access! Master bathroom is updated. All new screens except for laundry room. New blinds in both bedrooms and kitchen. New ceiling fans. All appliances are all Maytag stainless in kitchen and Whirlpool washer and dryer. Must See!! Community has tons of amenities and activities! Great 55 plus community!

38. 2021-05-08
    historical Active Under Contract 363-char remark

    Show marketing remark (363 chars)

    Great end unit! Conveniently located to Litton Rd gate! Easy access! Master bathroom is updated. All new screens except for laundry room. New blinds in both bedrooms and kitchen. New ceiling fans. All appliances are all Maytag stainless in kitchen and Whirlpool washer and dryer. Must See!! Community has tons of amenities and activities! Great 55 plus community!

39. 2021-05-07
    price $159,900 363-char remark

    Show marketing remark (363 chars)

    Great end unit! Conveniently located to Litton Rd gate! Easy access! Master bathroom is updated. All new screens except for laundry room. New blinds in both bedrooms and kitchen. New ceiling fans. All appliances are all Maytag stainless in kitchen and Whirlpool washer and dryer. Must See!! Community has tons of amenities and activities! Great 55 plus community!

40. 2021-04-27
    listed $169,900 Active 363-char remark

    Show marketing remark (363 chars)

    Great end unit! Conveniently located to Litton Rd gate! Easy access! Master bathroom is updated. All new screens except for laundry room. New blinds in both bedrooms and kitchen. New ceiling fans. All appliances are all Maytag stainless in kitchen and Whirlpool washer and dryer. Must See!! Community has tons of amenities and activities! Great 55 plus community!

41. 2021-04-19
    historical $169,900 363-char remark

    Show marketing remark (363 chars)

    Great end unit! Conveniently located to Litton Rd gate! Easy access! Master bathroom is updated. All new screens except for laundry room. New blinds in both bedrooms and kitchen. New ceiling fans. All appliances are all Maytag stainless in kitchen and Whirlpool washer and dryer. Must See!! Community has tons of amenities and activities! Great 55 plus community!

42. 2015-11-09
    soldstatus $90,000
43. 2015-11-03
    soldstatus $90,000 Closed
44. 2015-09-20
    historical Contingent
45. 2015-08-31
    status Active
46. 2015-08-17
    status Pending
47. 2015-07-12
    price $92,500
48. 2015-05-07
    listed $94,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $2,500 · $208/mo
• Projected year-2 tax: $2,500 · $208/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°F today · 26 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,607
• − Mortgage interest: −$8,346
• − Property taxes: −$2,500
• − Insurance: −$745
• − Repairs & maintenance: −$2,209
• − Management: −$2,209
• − HOA: −$8,568
• − Depreciation: −$4,335
• Taxable loss: −$1,303
• Est. tax savings @ 24.0%: +$313
• After-tax cash flow: $933/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Palm Beach
• NCES district ID: 1201500
• Math proficiency: 46% ▼ -16.00%
• Reading proficiency: 53% ▼ -4.00%
• Median HH income: $53,943
• Composite: 42.72/100
• National rank: #3160
• State rank: #34 of 73 in FL

Livability — Delray Beach

• Score: 77/100
• State rank: #202
• US rank: #3160

Category grades

Amenities F Commute A- Cost of living C- Crime D- Employment B+ Housing A+ Health & safety A+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Palm Beach County · 1,438,312 people
• City population: 123,167
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 26,208
• Household income: $62,151
• Rent vs Own: 19.0% rent · 81.0% own
• Severe rent burden: 991.0

Population outlook (Palm Beach County) Hauer SSP2

• Today (2025): 1,637,487 people
• By 2030: 1,743,255 · +6.5%
• By 2040: 1,948,712 · +19.0%
• By 2050: 2,132,979 · +30.3%
• By 2075: 2,530,027 · +54.5%
• By 2100: 2,706,979 · +65.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 14% Two or more races 10% Black 5% Asian 2%
• Hispanic origin (detail): Puerto Rican 2% Cuban 2%
• Common ancestry: Scotch-Irish 7% Romanian 6% Italian 2%
• Foreign-born: 23% · Canada, Jamaica, China
• Languages at home: 76% English-only · Spanish 13% Russian/Polish/Slavic 3% French/Haitian/Cajun 3%

Political lean MEDSL · Palm Beach

• 2024 margin: Toss-up / Even · D 50.0% · R 49.2%
• 2008→2024 swing: -22.1pp toward R · 2008: 22.9pp · 2024: 0.8pp
• All cycles: 2024: D+0.8 2020: D+12.8 2016: D+15.3 2012: D+17.0 2008: D+22.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -232.73%
• Current HPI: 254.5016
• Rent YoY: ▲ 4.28%
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

+62.3% since first listed

35 events — show timeline

• 2026-04-25 Price Changed $154,000 MARMLS
• 2026-03-27 Listed $159,000 MARMLS
• 2025-12-05 Listing Removed — Beaches MLS
• 2025-10-27 Price Changed $175,000 Beaches MLS
• 2025-07-14 Price Changed $170,000 Beaches MLS
• 2025-07-14 Relisted — Beaches MLS
• 2025-07-04 Listing Removed — Beaches MLS
• 2025-07-04 Relisted — Beaches MLS
• 2025-06-01 Listing Removed — Beaches MLS
• 2025-06-01 Price Changed $225,000 Beaches MLS
• 2025-06-01 Relisted — Beaches MLS
• 2025-05-01 Listing Removed — Beaches MLS
• 2025-02-15 Rental Removed $1,500 RMLSFL
• 2025-02-08 Listed for Rent $1,500 RMLSFL
• 2025-02-08 Rental Removed $1,500 GFLMLS
• 2025-02-08 Listed for Rent $1,500 GFLMLS
• 2024-07-09 Price Changed $209,980 Beaches MLS
• 2024-05-24 Price Changed $209,985 Beaches MLS
• 2024-04-18 Price Changed $209,990 Beaches MLS
• 2024-03-08 Price Changed $214,990 Beaches MLS
• 2024-02-05 Price Changed $219,999 Beaches MLS
• 2023-12-04 Listed $225,000 Beaches MLS
• 2021-07-09 Sold (Public Records) $155,000 Public Records
• 2021-07-02 Sold (MLS) $155,000 Beaches MLS
• 2021-05-08 Contingent — Beaches MLS
• 2021-05-07 Price Changed $159,900 Beaches MLS
• 2021-04-27 Listed $169,900 Beaches MLS
• 2021-04-19 Coming Soon $169,900 Beaches MLS
• 2015-11-09 Sold (Public Records) $90,000 Public Records
• 2015-11-03 Sold (MLS) $90,000 Beaches MLS
• 2015-09-20 Contingent — Beaches MLS
• 2015-08-31 Relisted — Beaches MLS
• 2015-08-17 Pending — Beaches MLS
• 2015-07-12 Price Changed $92,500 Beaches MLS
• 2015-05-07 Listed $94,900 Beaches MLS

Property tax history

+14.7%/yr

Latest (2025): $2,500 · -19.6% YoY. Source: county tax records.